-
CBN Introduces Initiative To Generate $200bn
The Central Bank of Nigeria has introduced a new initiative to generate $200 billion from non-oil exports and increase foreign reserves. The initiative ‘Race to $200 billion in FX Repatriation (RT200FX) Programme’ will stimulate non-oil exports with a $200 billion FX income target in the next three to five years, according to the apex bank.…
-
Foreign Reserves Rise To $34.85 Billion
The foreign reserves, on April 1, stood at $34.85 billion, representing $404 million increase compared to $34.41 billion on March 11. This rose has been attributed to the Central Bank of Nigeria ‘Naira for Dollar’ policy which led to positive accretion to the foreign reserves exactly one month after takeoff. The policy has seen dollar…